In the News

March 25, 2009

Internet Startup, Pixazza, Raises Series A Financing from Google and Venture Capital Firms

Mountain View, Calif. — March 25, 2009 — Pixazza, Inc. today
unveiled a new internet service which turns static images into
engaging content, while generating incremental income for web
publishers. Pixazza enables consumers to simply mouse over images on
their favorite web sites to learn more and see related products. To
achieve scale, Pixazza utilizes a proprietary crowdsourcing
platform, enlisting a distributed workforce of product experts to
match products inside an image, with similar items from its network
of advertisers.

In addition to launching its service, the company announced a $5.75
million Series A financing from August Capital, CMEA Capital and
Google. Google’s investment underscores the innovative and promising
nature of Pixazza’s new advertising technology. Pixazza’s financing
also includes selected individual investors including angel investor
Ron Conway, former eBay COO Maynard Webb, and Facebook CFO Gideon
Yu.

“Pixazza hopes to do for images what Google’s AdSense™
did for web pages,” said Bob Lisbonne, CEO of
Pixazza. “We are excited about the potential our technology
holds for delivering an engaging user experience that creates
incremental revenue for web publishers.”

Internet Pioneers Reunite for New Venture

Pixazza was founded in 2008 by CTO James Everingham, who recruited a
veteran team of internet technologists. The entire team worked
together at Netscape Communications in the 1990s, delivering
numerous internet firsts. Everingham later served as CTO of LiveOps,
where the same group comprised the founding engineering team, and
developed expertise in crowdsourcing technology. As the former
Sr. VP and General Manager of Netscape’s browser division, Lisbonne
added to the company’s Netscape roots when he joined as CEO, after
nine years as a Silicon Valley venture capitalist.

“Pixazza’s unique technical advantage is its crowdsourcing
platform,” said CTO James Everingham. “No computer
algorithm can identify a black pair of Jimmy Choo boots from the
2009 fall collection as well as a person. Rather than rely on
computer algorithms, our platform enlists product experts to drive
the process.”

“CMEA Capital has worked with the Pixazza team previously, and
we know they have what it takes to build a successful
company,” said Jim Watson, managing director at CMEA
Capital. “Their unmatched expertise in building crowdsourcing
platforms combined with a recession-proof business model, made this
an investment opportunity we could not pass up.”

Finding Products in the Picture

Pixazza is not a shopping destination, but rather a service that web
publishers employ to allow their visitors to gather insight on
products that might interest them. To use it, consumers simply move
their mouse over any image posted to participating sites. The motion
instantly reveals information and pricing about a selection of
products similar in look and style to the one that caught their
eye. One click on any item brings them directly to the product page
of an associated merchant to learn more and make a purchase.

“By using Pixazza, publishers will give consumers another
reason to visit their favorite web sites,” said Howard
Hartenbaum, general partner at August Capital and initial investor
in Skype. “Consumers will quickly appreciate that, with one
click of a mouse, they can discover in-depth information about the
images that catch their eye. It will soon become a must-have
offering across the web.”

Pixazza’s service has undergone testing since November 2008, is
already live on multiple web sites, and is being made available to
additional publishers at this time. Pixazza is initially seeking
fashion-related publishers and apparel merchants, but plans to
expand into other categories including home design/home furnishings,
travel, electronics, and sports.

To activate Pixazza, Web publishers just add a line of javascript to
their pages. Web publishers interested in adopting the Pixazza
service, or merchants that would like to see their inventory
included in the product mix, can find more information at
www.pixazza.com.

About Pixazza

Founded in 2008, Pixazza, Inc. provides an internet service that
turns static images into engaging content, while generating
incremental income for web publishers. Pixazza enables consumers to
simply mouse over images on their favorite web sites to learn more
and see related products. Pixazza is a private company funded by
August Capital, CMEA Ventures, and Google, with offices in Mountain
View, CA. For more information, visit
www.pixazza.com.

About August Capital

Founded in 1995, August Capital has funded an extraordinary group of
entrepreneurs who have built significant, long-term value across the
full range of information technologies. These companies represent an
aggregate market capitalization of well over $250 billion, generate
in excess of $75 billion in annual revenue around the world. This
success is a testament to the entrepreneurs themselves, as well as
the fundamental technologies they have created. The partners at
August Capital were the earliest investors in a number of ground
breaking technology companies, including Microsoft, Intuit,
Seagate, Sun, Skype, Compaq, Symantec, Sybase, Atheros, Grand
Junction and many more. August Capital is located in Menlo Park,
California. For more information, please visit:
www.augustcap.com.

About CMEA Capital

CMEA Capital provides capital and counseling to entrepreneurs and
investors in the life sciences, information technology, and energy
& materials sectors. Through its combination of solid scientiﬁc
credentials and seasoned management expertise, CMEA identiﬁes, funds
and manages new businesses based on the emerging, interdisciplinary
science required to meet the challenges and opportunities of a
rapidly changing global economy. The firm currently manages seven
funds representing investments in excess of $1 billion. CMEA has
been an early stage investor in many leading companies, including
A123Systems, Codexis, Entropic (ENTR), Flextronics (FLEX), Magma
(LAVA), Maxygen (MAXY), Silicon Spice (BRCM), Solyndra, and Symyx
(SMMX).